Tag: Lic Ipo

LIC has fixed the price band at Rs 902-949 per equity share for the issue. The offer includes a reservation for eligible employees and policyholders. The retail investors and eligible employees will get a discount of Rs 45 per equity share, and policyholders will get a discount of Rs 60 per equity share.

"We expect post-IPO improvements in LIC's operating performance and profitability to drive comparable changes across the wider life insurance sector."

Protesting against the move of the government, the employees of LIC Circle Office in Cuttack staged a two-hour-long demonstration. They demanded the rollback of the decision. 

LIC's initial public offering (IPO), open for retail and institutional investors, is set to close on May 9. The issue period also includes bidding on Saturday, May 7.

The long-awaited Initial Public Offering (IPO) for the LIC will remain open to subscription till May 9.

The price band for the IPO has been fixed at Rs 902-949 per share.

Domestic mutual funds invested Rs 4,002 crore, accounting for a little over 71 per cent of the total anchor book portion of the much-awaited initial public offering (IPO) of Life Insurance Corporation (LIC).

The IPO of the state-owned Life Insurance Corporation is finally opening for the public on May 4. The state-owned life insurer’s maiden IPO, India’s ‘biggest’ ever, will be available for public at a price band of Rs 902-949.

The initial public offering (IPO) of the Life Insurance Corporation will be the biggest issue in India despite the reduced offer size, Department of Investment and Public Asset Management (DIPAM) Secretary, Tuhin Kanta Pandey said on Wednesday.

LIC's embedded value, which is a measure of the consolidated shareholders value in an insurance company, was pegged at about Rs 5.4 lakh crore as of September 30, 2021, by international actuarial firm Milliman Advisors.

Snapping its two-day losing streak, the rupee rose by 8 paise to close at 76.56 against the US dollar on Tuesday following a rebound in regional currencies and expectations of foreign fund flows as the LIC IPO is likely to hit markets early in May.

The government in February had planned to sell a 5 per cent stake in Life Insurance Corporation (LIC). However, the ongoing market volatility due to the Russia-Ukraine war has made it lower the IPO size.

LIC's embedded value, which is a measure of the consolidated shareholders' value in an insurance company, has been pegged at about Rs 5.4 lakh crore as of September 30, 2021, by international actuarial firm Milliman Advisors.

India has a robust Civil Registration System (CRS) and Sample Registration System (SRS) which was in place even before the COVID-19 pandemic and covers all states and union territories, the government said.

The LIC on Sunday filed the Draft Red Herring Prospectus (DHRP) with the Securities and Exchange Board of India (SEBI).